Kemira´s Pension Fund Neliapila and Bonava have signed a preliminary agreement on the development of land area in Espoo

Kemira's employees' pension fund Neliapila and Bonava Suomi Oy have signed a preliminary real estate transaction on June 12th, 2018, where Bonava Suomi Oy starts to plan and develop, together with Neliapila and Kemira, approximately 50,000 m2 area located in Finnoo, Espoo, for residential and office use.

Kemira’s largest research center with over 150 scientists and experts is currently located in Neliapila’s property. The Research Center serves Kemira’s businesses and its customers worldwide.

”Our goal is to ensure the long-term operation of our strategically important research center. The purpose of the project is to build a completely new premises and laboratory facilities on the existing plot”, says Matthew R. Pixton, Chief Technology Officer, Kemira.

Real estate transaction requires a change in the town plan to be implemented. The parties seek to change the town plan for residential and office use as a common intention to develop a diversified housing supply in the area. Final agreement will be signed when the terms of the preliminary contract have been fulfilled and the changes in the town plan become final.

”Bonava is a reliable partner whose values, such as sustainable development and resource efficiency, are well suited to us. The references of Bonava and their project team give credibility to their ability to implement the project, agreed upon and jointly with Kemira, to participate in the rapidly developing city of Espoo”, says Sampo Lahtinen, VP, R&D and Technology, Kemira.

Kemira is a global chemicals company serving customers in water intensive industries. We provide expertise, application know-how and chemicals that improve our customers’ product quality, process and resource efficiency. Our focus is on pulp & paper, oil & gas and water treatment. In 2017, Kemira had annual revenue of around EUR 2.5 billion and 4,732 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd. www.kemira.com

Bonava is a leading residential development company in Northern Europe. Bonava has been creating homes and neighbourhoods since the 1930s. Bonava has 2 000 employees and operates in Sweden, Germany, Finland, Denmark, Norway, St. Petersburg, Estonia and Latvia, with sales of SEK 14,5 billion in 2017. Bonava’s shares are listed on Nasdaq Stockholm. www.bonava.com